The Business Platinum Card® from American Express

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In a Nutshell

The Business Platinum Card® from American Express has a staggering annual fee, but it can be well worth it for the right business owner.

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You don’t need to be wealthy to travel in style — you just need The Business Platinum® Card from American Express.

Yes, the card charges a $450 annual fee. But depending on how you take advantage of its perks throughout the year, you could get far more value out of it than what you pay to keep it.

Cardholders receive a healthy welcome offer of Membership Rewards® points, and earn bonus rewards on certain travel and large purchases. They also may be able to get extra perks when they travel.

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What we like

Heads up

Welcome offer
  • You can earn up to 75,000 Membership Rewards® points after you spend 20,000 on purchases in the first 3 months after account opening
  • You’ll need to spend a lot to get the maximum welcome offer — if that’s not in your budget, we don’t recommend spending more just to get the points
APR
  • The card doesn’t technically charge an APR unless you sign up for the Pay Over Time feature (a variable 19.99% APR)
  • It’s a charge card, so the full amount of your statement balance is due each month unless you sign up for the Pay Over Time feature
Fees and penalties
  • You won’t pay interest if you pay off your balance in full each month
  • The card charges an annual fee of $450
  • If you don’t pay your balance in full each month, you’ll pay the greater of $38 or 2.99% of the past due amount
Rewards
  • You’ll earn five Membership Rewards® points per $1 spent on flights and prepaid hotels on amextravel.com
  • You’ll get 50% more points on purchases of $5,000 or more (1.5 points per $1 spent)
  • Use your points to book a flight with an airline you preselect, and you’ll get 35% of them back (on up to 500,000 bonus points per year)
  • You only earn 1 point per $1 spent on all other purchases

  1. The rundown: Everything we like about The Business Platinum® Card from American Express
  2. Heads up: What you should consider before applying for The Business Platinum® Card from American Express
  3. Do the math: How to get the most out of The Business Platinum® Card from American Express
  4. Bottom line: Is The Business Platinum® Card from American Express right for you?

The rundown: Everything we like about The Business Platinum® Card from American Express

Given its high annual fee, The Business Platinum® Card from American Express may not be the first choice for many business owners. But depending on how often you use the card and your travel habits, you could get enough value out of the card to make up for its cost.

The welcome offer plus the five points you earn per $1 on flights and prepaid hotels booked on amextravel.com can add up. And when it comes to redeeming your rewards, you’ll get 35% of them back — up to 500,000 points per year — if you use them to book first-class and business-class tickets on any airline (or to book any fare class on your selected airline) through American Express Travel.

Alternatively, you can transfer your points to one of American Express’ airline or hotel transfer partners.

Even if you don’t spend a lot on travel, you can still get a lot of value out of The Business Platinum® Card from American Express, with perks like …

  • Annual airline fee credit of up to $200 at one qualifying airline you select
  • Lounge access
  • Credit every four years for up to $100 for your application fee for Global Entry or TSA Pre✓®
  • Elite status with some hotel rewards programs, such as Hilton Honors
  • Complimentary membership in premium rental car programs, including special discounts and upgrades, with Avis, Hertz and National

Heads up: What you should consider before applying for The Business Platinum® Card from American Express

Unless you spend a lot on travel, The Business Platinum® Card from American Express isn’t a rewards powerhouse. The card offers just one point per $1 on most purchases.

Also, the card’s airline fee credit is valid only for one airline you select each calendar year. So, unless you’re an airline loyalist, it can be difficult to get the full credit amount annually.

The best credit cards for business travel

Finally, the card is a charge card, which means that you typically need to pay off the full balance each month. If you’re not sure you can manage that, you may be able to opt-in to American Express’s Pay Over Time feature. With this program, you can carry a balance from month to month at a variable APR of 19.99%.

Do the math: How to get the most out of The Business Platinum® Card from American Express

The main thing you’ll want to know before you apply for this card is whether it’s worth the annual fee. It’s not easy to know exactly what the card’s perks are worth in dollars and cents, but it’s still worth trying to find out how much they’re worth to you.

Start by calculating the card’s benefits that have a dollar amount attached. For example, a $200 airline fee credit could effectively drop the annual cost to $250.

Then look at the card’s other benefits that aren’t so easily quantifiable and determine how much value you get out of them. Elite hotel status, for instance, could help you get room upgrades and better Wi-Fi — the same goes for your premium rental car program membership.

As you consider each of the card’s benefits and how often you’d use them, it will be easier to determine whether it’s worth the fee to you.

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Bottom line: Is The Business Platinum® Card from American Express right for you?

The Business Platinum® Card from American Express is a complex credit card with a high annual fee. While the card offers a suite of premium perks, it’s probably not worth it for business owners who don’t travel often enough to maximize the card’s value.

If, however, you spend a lot on travel for your business or want to take advantage of the card’s travel perks, it may be right up your alley. Either way, be sure to compare it with other top business credit cards to make sure you get the best one for your company.


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